SUI Price Prediction: Layer-1 Tokens Expected to Trigger a Huge Upswing, Leaving Behind Some of the Large-Cap Tokens

SUI price, which has demonstrated massive strength in recent times is expected to revamp a strong rise shortly

Layer-1 tokens have been the foundation of the crypto space. With the emergence of new tokens, they have offered tough competition to the primitive ones. SUI price, which has demonstrated massive strength in recent times, is expected to showcase a strong rise shortly.

The growing dominance of Bitcoin has raised the possibility of a BTC bull run in a short while from now. On the other hand, once the dominance reaches its peak, it could face a rejection that may not only keep the BTC price consolidated but also allow a remarkable rise in the altcoin dominance. In such a case, layer-1 tokens like SUI are expected to trigger a huge upswing, leaving behind some of the large-cap tokens, which may continue to trade with less intensity comparatively.

Sui is the most popular layer-1 token, which has displayed immense strength within a short time frame. The price recovered from the losses and also formed a new ATH that displayed the huge confidence of the bulls over the token. Although the price has been facing massive bearish pressure due to increased sell-offs, in the long term, the token is believed to trigger a fine ascending trend.

The SUI price is facing massive upward pressure, which has compelled the price to plunge by over 18% from the highs. In times when a quick rebound is expected, the technicals suggest the price may continue with the prevailing trend and reach the local support at 0.618 FIB at $1.61. The bulls may display some strength and hold the rally above $1.6, which may further trigger a rebound. The DMI, which is close to undergoing a bearish crossover, validates the upcoming downtrend.

However, the volume suggests a fresh influx of liquidity could be fast approaching as it has reached the ground levels after marking the highs. Hence, the bears seem to have extracted their profit that could further allow the bull to thrive and push the price above $3. Meanwhile, the other layer-1 tokens, like SEI, Aptos, & Solana, may also be keeping up for the upcoming bull run, as the trader’s confidence in the token appears to have remained unchanged regardless of the prevailing bearish influence.

The above is the detailed content of SUI Price Prediction: Layer-1 Tokens Expected to Trigger a Huge Upswing, Leaving Behind Some of the Large-Cap Tokens. For more information, please follow other related articles on the PHP Chinese website!